A BILL for an Act to create and enact a new section to chapter 6-09 of the North Dakota Century Code, relating to a higher education infrastructure revolving loan fund; to provide an appropriation; to provide a transfer; and to provide for a legislative management report.
Impact
The proposed revolving loan fund is designed to alleviate financial burdens on higher education institutions by providing accessible financing options for infrastructure projects. An appropriation of $25 million from the state’s general fund is earmarked for this purpose, marking a significant investment in the state’s educational system. The bill anticipates that these funds will not only support immediate infrastructure needs but also contribute to longer-term financial sustainability for educational institutions by ensuring they have the necessary facilities to attract and retain students.
Summary
House Bill 1128 aims to establish a higher education infrastructure revolving loan fund in North Dakota. The bill allows the Bank of North Dakota to issue loans for auxiliary enterprise infrastructure projects at institutions governed by the state board of higher education. This fund is intended to support the construction and renovation of essential facilities, such as student housing and dining, thereby enhancing the overall infrastructure of higher education institutions in the state. With a maximum loan term of 20 years and an interest rate ceiling of three and a half percent, the legislation proposes a structured approach to financing educational infrastructure improvements.
Sentiment
The sentiment surrounding HB 1128 appears supportive among proponents who view it as a proactive step towards bolstering the quality and accessibility of higher education within North Dakota. Advocates argue that by investing in infrastructure, the state is effectively investing in the future of its students. However, there are also concerns from some legislators regarding the implications of this financial commitment on the state's broader budget priorities, particularly in times of fiscal constraint.
Contention
Notable points of contention include debates about the appropriateness of using state funds for higher education infrastructure during periods of overall budgetary challenges. Critics may voice concerns about the potential for mismanagement of funds or the prioritization of certain institutions over others. Furthermore, there is discussion about the terms of the loans and whether they adequately serve all institutions fairly and effectively.
A BILL for an Act to create and enact a new section to chapter 6-09 of the North Dakota Century Code, relating to a higher education infrastructure revolving loan fund; to provide an appropriation; to provide a transfer; and to provide for a legislative management report.
AN ACT to create and enact a new section to chapter 6-09 of the North Dakota Century Code, relating to a long-term care facility infrastructure loan program; to amend and reenact subsection 3 of section 6-09-47 of the North Dakota Century Code, relating to the medical facility infrastructure loan fund; and to provide an appropriation.
AN ACT to provide an appropriation to the department of health and human services for federal rural health transformation program grant funds; to provide an appropriation to the Bank of North Dakota to administer a loan program; to provide for a transfer; to amend and reenact section 6-09-47 of the North Dakota Century Code, relating to a rural health loan program under the medical facility infrastructure loan fund; to provide an exemption; to provide for a legislative management report; to provide for application; to provide a report; and to provide an effective date.
AN ACT to provide an appropriation to the department of health and human services for federal rural health transformation program grant funds; to provide an appropriation to the Bank of North Dakota to administer a loan program; to provide for a transfer; to amend and reenact section 6-09-47 of the North Dakota Century Code, relating to a rural health loan program under the medical facility infrastructure loan fund; to provide an exemption; to provide for a legislative management report; to provide for application; to provide a report; and to provide an effective date.
A housing development loan fund; to provide an appropriation; to provide a continuing appropriation; to provide for a transfer; to provide an expiration date; and to declare an emergency.
A BILL for an Act to create and enact a new section to chapter 6-09 of the North Dakota Century Code, relating to a housing development loan fund; to provide an appropriation; to provide a continuing appropriation; to provide for a transfer; to provide an expiration date; and to declare an emergency.
AN ACT to amend and reenact section 6-09-47 of the North Dakota Century Code, relating to a medical facility emergency operating loan program under the medical facility infrastructure loan fund; to provide an appropriation; to provide a transfer; to provide an effective date; and to provide an expiration date.